Shanghai Chuanbo Assets Management Company has won the bidding to take over the bankrupt shipping company, Guangdong Fenghai Shipping, at a price of RMB1.3bn ($187.2m).

The Chinese port of Ningbo-Zhoushan posted 800,000 teu sea-rail cargo volumes in 2019, with a year-on-year growth of 33.3%.

Huangshi new port, a major port area along China’s Yangtze river, has started the third phase project construction for port infrastructure expansion.

CDB Leasing (International) Company, wholly-owned subsidiary of China Development Bank Leasing, has entered into a vessel purchase agreement with CMB International Leasing Management Limited to acquire an LNG vessel for $154.5m.

Leading Chinese marine fuel suppliers Chimbusco, PetroChina and Sinopec Corp have penned agreements to procure very low sulphur fuel oil (VLSFO) from international companies including Shell in preparation for IMO 2020.

Yingtan port in China’s Jiangxi province is to start the construction of its cargo terminal project at the end of this month to improve domestic waterway transportation.

Yangzijiang Shipbuilding announced that, Ren Yuanlin, executive chairman of the company, is to return to office and resume his duties with the company.

The South China port of Guangzhou opened-up a Vietnam office in Ho Chi Minh City.

South Korea’s DongHwa Entec specialises in manufacturing a wide range of heat-exchangers from marine heat-exchanger repairing service to heat-exchangers for power-generation and plant industry.